Title
A RESOLUTION TO RATIFY AND CONFIRM THE PROJECT USER FEE RESOLUTION OF THE DISTRICT ADOPTED DECEMBER 19, 2016
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PUBLIC CULTURAL AND ENTERTAINMENT FACILITIES COOPERATIVE DISTRICT OF THE CITY OF FOLEY, ALABAMA :
Section 1. Definitions
For purposes hereof:
A&S District means The Public Athletic and Sports Facilities Cooperative District of the City of Foley, Alabama.
Note Maturity Date shall have the meaning assigned in the Project User Fee Resolution.
Project User Fee Area shall have the meaning assigned in the Project User Fee Resolution.
Project User Fee for Property shall have the meaning assigned in the Project User Fee Resolution.
Project User Fee for Transactions shall have the meaning assigned in the Project User Fee Resolution.
Project User Fees shall have the meaning assigned in the Project User Fee Resolution.
Project User Fee Resolution means the resolution of the District entitled" A RESOLUTION IMPOSING PROJECT USER FEES AND AUTHORIZING A NOTE PAYABLE THEREFROM" adopted by the District on December 19, 2016.
Section 2. Representations
The District has found and determined, and does hereby find, determine and declare:
(i) the Project User Fee Resolution and the Project User Fees have been validated and confirmed by judgment of the Circuit court of Baldwin County, Alabama, entered on June 21, 2017 in 05-CV-2017-900475; and
(ii) the Project User Fee Resolution and the Project User Fees are in full force and effect.
Section 3. Ratification of Project User Fee Resolution
The District hereby ratifies and confirms in all respects the adoption of the Project User Fee Resolution and the levy, collection, and application of the Project User Fees as provided in the Project User Fee Resolution.
Section 4. Authorization of Levy of Project User Fee For Property
The District hereby authorizes and directs the Project User Fee for Property to be levied and collected within the Project User Fee Area by the District for the period ending on the Note Maturity Date on a combined basis with the identical fee levied and collected within the Project User Fee Area by the A&S District, so that the rate of the Project User Fee for Property of the District for such period shall be equal to one-half of the rate specified therefor in the Project User Fee Resolution and the total combined project user fees levied for property within the Project User Fee Area by both the District and the A&S District will not exceed the maximum rate established for either of such fees.
Section 5. Authorization of Levy of Project User Fee For Transactions
The District hereby authorizes and directs the Project User Fee for Transactions to be levied and collected within the Project User Fee Area by the District for the period ending on the Note Maturity Date on a combined basis with the identical fee levied and collected within the Project User Fee Area by the A&S District, so that the rate of the Project User Fee for Transactions of the District for such period shall be equal to one-half of the rate specified therefor in the Project User Fee Resolution and the total combined project user fees levied for transactions within the Project User Fee Area by both the District and the A&S District will not exceed the maximum rate established for either of such fees.
Section 6. Immediate Effect; Repeal of Conflicting Provisions.
The District provides this Resolution shall become effective immediately and repeals all orders, ordinances, resolutions or other proceedings of general and permanent effect to the extent of any conflict or inconsistency with the provisions of this Resolution.